As of May 8, 2025, Bitcoin (BTC) has shown a moderate upward trend in the past hour, with the price breaking through the $99,500 mark, reaching a high of $100,131, indicating the market's active attempt to break through psychological barriers.
In terms of technical indicators, the short-term moving averages (such as the 10-period and 20-period SMA) on the 1-hour chart have shown a slight increase, suggesting that buying pressure has strengthened in the short term. However, the Relative Strength Index (RSI) is close to the overbought area, indicating a potential risk of a pullback in the short term.
Regarding support levels, the key short-term support is around $98,000. If the price falls back to this area, it may attract new buying interest. Resistance levels are concentrated in the range of $100,000 to $100,500, and breaking through this area could open up space for further increases. Bitcoin News
Overall, Bitcoin has demonstrated some upward momentum in the past hour, but caution is advised regarding the risk of a pullback in the short term. It is recommended that investors closely monitor the performance of key support and resistance levels to formulate corresponding trading strategies.
